A grand day out: Deloitte comments on VAT cut in hospitality and tourism sector has been saved
A grand day out: Deloitte comments on VAT cut in hospitality and tourism sector
8 July 2020
Daniel Lyons, head of tax policy at Deloitte, comments on the Chancellor’s cut to the VAT rate:
“The sector specific VAT rate cut to 5% is aimed at boosting business and protecting jobs in two of the sectors hardest hit by the COVID-19 pandemic. Whilst the cut will be welcomed by many, pubs and bars may be disappointed that it has not been extended to the sale of alcoholic drinks.
“The rate change could mean a range of savings for consumers. For a pub meal costing £45 without alcohol, a couple could expect to save £5.62, while a £54.50 one night stay at a hotel in a family room would see a saving of £6.81. A family ticket to a theme park or zoo costing £144 could see a saving of nearly £18.”
Note to editors
You can follow us on Twitter:
@DeloitteUK for live comment;
Deloitte has a range of spokespeople available to comment on today’s statement. They can be reached on 020 7007 3333 or 0207 303 5054 or one of the following numbers:
- Ian Stewart – chief economist (07789 036 944)
- Daniel Lyons - head of tax policy (07920 270 964)
- Patricia Mock - personal tax (07826 891 752)
- Alison Lobb – corporate tax (07785 381 369)
- Mark Groom - employment tax (07768 178 264)
- Jonathan Evans – stamp duty (07855 399368)
- Mike Barber – climate change/sustainability (07920 006 216/07920 270 964)
In this press release references to “Deloitte” are references to one or more of Deloitte Touche Tohmatsu Limited (“DTTL”) a UK private company limited by guarantee, and its network of member firms, each of which is a legally separate and independent entity.
Please see deloitte.com/about for a detailed description of the legal structure of DTTL and its member firms.
Deloitte LLP is a subsidiary of Deloitte NSE LLP, which is a member firm of DTTL, and is among the UK's leading professional services firms.
The information contained in this press release is correct at the time of going to press.
For more information, please visit www.deloitte.co.uk
Member of Deloitte Touche Tohmatsu Limited